Greenville Building and Loan Association
Greenville, Hunt County, Texas
Marker Inscription
This financial institution was chartered by the state of Texas on December 17, 1886, as the Greenville Building and Loan Association. The formation of the association came as a second railroad line was constructed to Greenville, signaling the future of Hunt County Seat as an important center for trade and commerce. The original directors were Thomas Jefferson Gee, I. Popper, Ira D. Wyse, T. E. Byrd, Ephraim W. Briscoe, Frank P. Alexander, and Asher Mandelbaum. Many of the first directors and stockholders were individuals who had migrated to Greenville and became active leaders in its early development. Their belief in the town's potential was reflected in the establishment of the association, the second oldest continuing thrift institution in the state. In the mid-1930s, during the height of the nation's economic depression, the directors successfully converted the association to a federal mutual savings and loan institution. Renamed Centennial Savings Bank in 1983, when it became a federally-chartered savings bank, the institution has continued to reflect the community support advocated by its founders. Texas Sesquicentennial 1836-1986
Erected by Texas Historical Commission
The Story
Chartered by the state in 1886 as a second railroad reached Greenville, this building and loan association reflected local leaders' confidence in the Hunt County seat's future as a trade center. Its founding directors were merchants and businessmen who had settled in Greenville and helped build it up, and their institution became the second-oldest continuing thrift in Texas. It weathered the Great Depression by converting to a federal mutual savings and loan and, renamed Centennial Savings Bank in 1983, carried its founders' community mission forward.
Why it matters
The association shows how local thrift institutions financed the growth of railroad-era county seats, pooling neighbors' savings to build the homes and businesses of a rising town.
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Related people
- · Thomas Jefferson Gee
- · Ira D. Wyse
- · Ephraim W. Briscoe
- · Frank P. Alexander
- · Asher Mandelbaum
Themes & tags
Nearby & related markers
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Hunt County's First Railroad
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